Biotechnology major Biocon on Wednesday said it has
inked a pact with Quark Pharmaceuticals, Inc to develop a range of siRNA
(small interfering RNA) based novel therapeutics.
The
companies have entered into a licensing and collaboration agreement for
the development of a range of siRNA (small interfering RNA) based novel
therapeutics, Biocon Ltd said in a statement.
“This
collaboration will enable Biocon to co-develop, manufacture and
commercialise QPI-1007, a novel siRNA drug candidate for ophthalmic
conditions, for India and other key markets,” it added.
As
part of the agreement, Biocon will have access to Quark’s innovative
and proprietary siRNA technology platform that can be leveraged for the
development of novel therapeutics for various unmet medical needs.
The company, however, did not disclose financial details.
Commenting
on the development, Biocon Chairperson and Managing Director Kiran
Mazumdar Shaw said Quark is the world leader in this technology and
their joint development efforts on QPI—1007, targeting ocular
neuroprotection, aims at providing relief to several patients suffering
from serious ophthalmic conditions.
“This
collaboration reinforces our commitment to develop and introduce
innovative therapeutics to India to meet the unmet medical needs. We
hope to use this technology for developing several other novel
therapeutics,” she added.
QuarkPharma CEO Daniel Zurr
said the collaboration will position Biocon as the leading siRNA
company in India and as an international player in this new drug
category.
Shares of Biocon were trading at Rs 427.30 apiece on the BSE in late afternoon trade, up 8.82 per cent from its previous close.
